IRS Form 1099-DA: Complete guide for crypto investors
Form 1099-DA is the new IRS form US crypto exchanges must use to report customer transactions starting with the 2025 tax year (filed in 2026). What it covers, what it doesn’t, key dates, and how to prepare. Editorial summary — not tax advice.
Timeline
- Jul 9, 2024Treasury and the IRS publish the final broker regulations (Treasury Decision 10000).
- Jan 1, 2025Brokers must report gross proceeds on Form 1099-DA for transactions effected on or after this date.
- Jan 1, 2026Brokers must also report basis on certain transactions effected on or after this date: covered securities, digital assets acquired after 2025 in an account where the broker provides custody and held there until the sale.
- Feb 17, 2026Due date for brokers to furnish 2025 Forms 1099-DA to customers (proceeds only).
What gets reported — and what doesn’t
- Each sale, exchange, or disposal of digital assets
- Gross proceeds from each transaction
- Date acquired (when known by the broker)
- Date sold or disposed
- Customer identifying info (name, address, TIN)
- Cost basis on 2025 sales: brokers report gross proceeds for 2025 transactions, and basis only from 2026
- From 2026, basis on noncovered assets (bought before 2026, or transferred in): the broker may leave it blank
- Wallet-to-wallet transfers between your own accounts
- Trades through decentralized or non-custodial brokers: the final regulations include no reporting requirement for them
- Some sales of qualifying stablecoins and specified NFTs under the de minimis rules and optional reporting methods
How to prepare for 1099-DA filing
Seven steps to take before you file.
- 1Verify your name, address, and TIN are accurate on every US exchange you use
- 2Export the year's transaction history from each exchange (CSV) before you reconcile
- 3Cross-reference your 1099-DA against your own records — exchanges sometimes miss transactions
- 4Calculate your own cost basis wherever the form leaves it blank: every 2025 sale, and noncovered assets from 2026 on
- 5Use crypto tax software (CoinLedger, Koinly, CoinTracker) to reconcile across multiple exchanges
- 6File Schedule D + Form 8949 with your 1040 by the filing deadline (IRS.gov/filing/individuals/when-to-file)
- 7Keep all transaction records for 7 years (IRS audit window)
Frequently asked questions
What is IRS Form 1099-DA?
Form 1099-DA ("Digital Asset Proceeds From Broker Transactions") is a new IRS form that US crypto brokers must use to report customer transactions starting with the 2025 tax year (filed in 2026). It mirrors the long-standing 1099-B used for stock brokerages, adapted for digital assets. The final regulations, Treasury Decision 10000, were published on July 9, 2024.
Who has to file 1099-DA?
Brokers that facilitate digital-asset sales for US customers — Coinbase, Kraken, Gemini, Robinhood Crypto, Crypto.com, and most US-licensed exchanges. Self-custody wallets, fully decentralised DeFi protocols, and non-US exchanges are NOT subject to 1099-DA reporting (yet). The brokers file with the IRS AND send a copy to you.
When will I receive my 1099-DA?
For 2025 sales, brokers had to furnish Form 1099-DA by February 17, 2026. The IRS general instructions for information returns set the date each year: February 15, moved to the next business day when it falls on a Saturday, Sunday or legal holiday. Many platforms post the form in your account as a PDF.
Does 1099-DA include cost basis?
Not for 2025 sales: brokers reported gross proceeds only. For transactions effected on or after January 1, 2026, brokers must report basis for covered securities, which are digital assets acquired after 2025 in an account where the broker provides custody and held there until the sale. For noncovered assets, bought before 2026 or transferred in, the broker may leave basis blank, and you supply it.
What if my 1099-DA is wrong?
Contact the issuing broker immediately. Common errors: missing transactions, misclassified transfers (e.g., a wallet transfer flagged as a sale), or wrong TIN. Brokers can issue corrected forms (1099-DA Corrected). You should reconcile against your own transaction history before filing.
How do I file my crypto taxes using 1099-DA?
Use Schedule D (Capital Gains and Losses) and Form 8949 (Sales and Other Dispositions of Capital Assets) on your Form 1040. The proceeds figure from your 1099-DA goes directly onto Form 8949; you supply the cost basis yourself. Crypto tax software (CoinLedger, Koinly, CoinTracker) imports 1099-DA PDFs and automates Form 8949 generation.
Will 1099-DA cover DeFi and NFTs?
The final regulations do not include reporting requirements for brokers commonly known as decentralized or non-custodial brokers, which do not take possession of the digital assets being sold (IRS.gov/filing/digital-assets). Trades through them and self-custody activity remain yours to report on Form 8949. Sales of specified NFTs through a broker are reported, with optional methods and de minimis rules set out in the Instructions for Form 1099-DA.
What if I used multiple exchanges in 2025?
You'll receive a separate 1099-DA from each exchange. Crypto tax software is essentially mandatory for multi-exchange users — it imports each 1099-DA, reconciles across platforms, applies your chosen accounting method (FIFO/LIFO/HIFO), and outputs a consolidated Form 8949. Trying to reconcile manually with three or more exchanges is a recipe for filing errors.